executory trust

From Longman Business Dictionaryexecutory trustˈexecutory ˌtrust [countable]LAWFINANCEa trust that does not give fulldetails about how it is to be used, usually one formed by a person in their WILL (=a document saying how someone’s property is to be shared out when they die). A further document is needed before the person’s intentions can be carried out →trust